Friday, May 3, 2013

Rolls-Royce aerospace chief quits

The head of Rolls-Royce's prestigious aerospace division has resigned just four months after being promoted to lead the division that makes engines for commercial and military aircraft. Mark King, 48, will leave by the end of June. Rolls-Royce did not provide a reason for the departure. King will be replaced by Tony Wood, head of the company's ship engine business. Aerospace is the biggest Rolls-Royce division, accounted for more than 70 percent of 2012 revenues. In December the company said it was cooperating with a probe by Britain's Serious Fraud Office into allegations of bribery in some of the company's Asian business operations. (Source: The Guardian, New York Times, Financial Times, 05/02/13) Gulf Coast note: Rolls-Royce tests jetliner engines at its outdoor test facility at Stennis Space Center, Miss.